3 ms·
JP Morgan May Take Over Bank Of America
- adamjernst 15y agoThe deal must be off; BAC is up 11% today.
- rationalbeaver 15y agoOne bank to rule them all?
- chailatte 15y agoJPMorgan Chase Bank of America Merrill Lynch will rule us all
- jesseendahl 15y agoThis scares me, because if the U.S. ends up in a situation where the entire country is relying on even fewer financial institutions than it is now, then the government will definitely consider them "too big to fail." Not that the situation isn't bad already, but I can only see this making it worse.
- mahyarm 15y agoDo you think they'll try to do an AT&T and break them up into hundreds of little pieces?
- blackguardx 15y agoProbably not in the current political climate.
- simon_ 15y agoThis will definitely not happen. There is no way it would win the support of BAC's shareholders and board.
- jpadkins 15y agoCan someone explain why normal everyday chapter 11 bankruptcy is not applied to banks? Why can't they wipe out the shareholders, sell off the assets, and pay the creditors from that?
- olefoo 15y agoThe facile answer is that it's simple corruption. The slightly longer and more nuanced answer is that allowing such a failure to happen would cause more chaos and disruption than is politically acceptable to our elite decisionmakers.
- onedognight 15y agoFirst paragraph: > The "merger" would completely destroy the value of BAC's common shares.
- rprasad 15y agoThat would instigate a bank run by BofA's account holders, and possibly bank runs by account holders at other banks worried about the stability of their own financial institution. In other words, total financial collapse of the American economy.